COMM 315 Lecture Notes - Lecture 10: Time Walker, Jacuzzi, Specific Performance
23 Apr 2016
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Grandma"s bank account summary: membership, k term deposit, k term deposit (can"t take out until 26-oct-92 or wil receive no interest) Bank didn"t know gma was dead when bad boy removed funds: was bank guilty of not [2138] exercising prudence and diligence for its. Ratio: argument: bank is a special type of agent, v. strong fiduciary duties; if they"ve been defrauded they are 100% liable. Answer: bank should have been more [2138] prudent and diligent; it wasn"t prudent cash out the account, and the bank wasn"t diligent in its duty as agent to let funds be taken out before interest accrued. Bank guilty, has to pay missing funds to estate. Obligation that the bank has they have a contract (mandate) bank was the agent (pay to the order of example) Dr. dowell: good credit, so owns building for joseph. Notary hay-ellis: not paying attention to pay-outs for building maintenance.
